Good to Know…Week of August 1, 2011

FEDERAL DEFAULTDebt Deal Reached; Major Cuts ComingPresident Obama announced Sunday night a hard-fought deal with congressional Republicans to slash the federal deficit by $2.7 trillion over 10 years and lift the nation’s debt-ceiling limit to avoid a catastrophic default. The pact includes no tax increases sought by the president.

How a Federal Default Would Hit StatesIf the federal government begins defaulting on its obligations next week, it will clearly have some impact on states. The question nobody knows the answer to is: How much? A lot would depend on how the U.S. Treasury decides to prioritize its payments, as this analysis from the Bipartisan Policy Center makes clear. In some scenarios, programs that states rely heavily on federal dollars for, such as Medicaid, food stamps or welfare, could get short shrift. In other scenarios, economic damage could ripple out through states if federal employees don’t get paid, veterans don’t receive benefits or retirees don’t see Social Security checks.

TRANSPORTATIONMapnificent Visualizes the Boundaries of Public TransportationNo more blaming being late on the subway. An online mapping tool lets you see exactly how far you can get on public transportation in a given amount of time.

ENVIRONMENTGulf Oil Spill Victims Weary of Wait for PayoutsNEW ORLEANS–Robert Campo once believed the TV commercials by oil giant BP that promised to “make it right” and compensate those along the Gulf Coast who lost work during last year’s disastrous oil spill.

More than a year after the spill ruined his oyster beds, however, Campo is still waiting for what he believes is full payment. The $20 billion fund created by BP to compensate those ruined by the spill has offered him less than one-third of what he requested. He’s still waiting to hear why.

EPA Unveils Massive Restoration Plan for Chesapeake BayThe Environmental Protection Agency established an aggressive “pollution diet” for the Chesapeake Bay on Wednesday, spelling out steps that six states and the District must take by 2025 to put the troubled estuary on the path to recovery.

EPA Unveils Air-Quality Rules for Natural-Gas FrackingThe Obama administration on Thursday proposed the first national air standards for gas wells that are drilled using a controversial practice known as hydraulic fracturing or “fracking.”

POLITICSAmericans Elect seeks to upend primary systemReporting from Washington—County registrar offices across California on Thursday will begin receiving the product of an audacious enterprise–nearly 1.6 million signatures collected by Americans Elect, a group attempting to ride exasperation with the nation’s political leaders into a place on the ballot in all 50 states by 2012.

TECHNOLOGYArmy Wants Smart Phones, Apps to be Standard IssueThe Army wants a few good smart phones. It also wants tablet computers and any other handheld electronics that can help soldiers perform with more efficiency on and off the battlefield.

HOUSEHOLD WEALTHWealth Gaps Rise to Record Highs Between Whites, Blacks and HispanicsThe median wealth of white households is 20 times that of black households and 18 times that of Hispanic households, according to a Pew Research Center analysis of newly available government data from 2009.

FAAWait, Parts of the FAA Have Been Shut Down? We Explain.While lawmakers deadlock over long-term deficit reduction plans tied to the raising of the debt ceiling, one federal agency—the Federal Aviation Administration—has been in partial shutdown for nearly a week. The issue has largely been overshadowed by the debt debate, but as the New York Times notes, it’s another example of our current legislative dysfunction that’s had real consequences.

MEDICAIDMedicaid Explained: How a ‘Blended Rate’ Would WorkIf Democrats and Republicans in Washington ever come together on a deal to cut trillions of dollars from the federal budget, it almost certainly would require changes to Medicaid, the state-run health care program for the poor that consumes about 8 percent of the federal budget.